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DAILY EARNINGS

ArcelorMittal, Net Loss Narrows; AIG Net Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 12:41 PM ET February 13 2015

12:30 AM New York ArcelorMittal fourth-quarter net loss narrowed to $955 million. AIG fourth-quarter net tumbled 67% to $655 million. DTE Energy fourth-quarter net surged 141% to $299 million. Smucker third-quarter net fell 4% to $161 million. Kraft Foods fourth-quarter net swung to a loss $398 million.

Tollbooth Index rose 0.3% or 27.16 to 10,504.22.

Earnings Review

ArcelorMittal SA (MT) climbed 4.5% or 47 cents to $10.93 after the steel producer reported sales in the fourth-quarter ending in December declined 5.7% to $18.72 billion from a year ago period.

Net loss in the quarter narrowed to $955 million or 53 cents per diluted share compared to $1.23 billion or 69 cents from the same quarter last year.

American International Group Inc (AIG) jumped 2.3% or $1.18 to $53.63 after the insurance company reported revenues in the fourth-quarter ending in December dropped 2.7% to $9.21 billion from a year ago period.

Net income in the quarter tumbled 66.9% to $655 million or 46 cents per diluted share compared to $1.98 billion or $1.34 from the same quarter last year.

AIG announced additional share buyback of up to $2.5 billion and declared a dividend of 12.5 cents per share.

DTE Energy Co (DTE) dropped 2.1% or $1.76 to $82.23 after the energy company said revenues in the fourth-quarter ending in December soared 21.7% to $3.08 billion from a year ago period.

Net income in the quarter surged 141.1% to $299 million or $1.68 per diluted share compared to $124 million or 70 cents from the same quarter last year.

DTE Energy lifted operating earnings per share guidance between $4.48 and $4.72 from previously estimated range of $4.43 to $4.67.

Groupon Inc (GRPN) soared 8% or 59 cents or $8.06 after the online discount marketplace stated revenues in the fourth-quarter ending in December jumped 20.4% to $925.42 million from a year ago period.

Net in the quarter swing to profit $8.79 million or 1 cent per diluted share compared to a loss of $81.25 million or 12 cents from the same quarter last year.

J M Smucker Co (SJM) gained 1.6% or $1.79 to $114.18 after the food processing company reported net sales in the third-quarter ending in December fell 2% to $1.44 billion from a year ago period.

Net income in the quarter declined 4% to $160.9 million or $1.58 per diluted share compared to $166.7 million or $1.59 from the same quarter last year.

Kraft Foods Group, Inc. (KRFT) dropped 2.9% or $1.96 to $64.21 after the food and beverage product maker said net revenues in the fourth-quarter ending in December rose 2.2% to $4.7 billion from a year ago period.

Net in the quarter swung to a loss of $398 million or 68 cents per diluted share compared to profit of $931 million or $1.54 from the same quarter last year.

Ventas, Inc. (VTR) fell 0.7% or 53 cents to $76.45 after the healthcare company reported net sales in the fourth-quarter ending in December rose 4.3% to $362.5 million from a year ago period.

Net income in the quarter increased 1.1% to $107.2 million or 36 cents per diluted share compared to $108.4 million or 37 cents from the same quarter last year.

VF Corporation (VFC) jumped 5.9% or $4.22 to $75.22 after the apparel and footwear maker said net sales in the fourth-quarter ending in December jumped 9% to $3.54 billion from a year ago period.

Net income in the quarter plunged 67% to $122.1 million or 28 cents per diluted share compared to $367.7 million or 82 cents from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc